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LinkedIn To Acquire Bizo In A Deal Valued At $175 Million
In an effort to build out its marketing and mobile products, LinkedIn announced it has entered into an agreement to acquire Bizo, a B2B marketing technology provider.
According to the announcement, the deal is valued at approximately $175 million.
Founded in 2008 by Russell Glass, Bryan Burdick, Donnie Flood, Mark Dye, Lee Byrne and Yonatan Stern, Bizo provides measurable display and social ad programs built for B2B audiences. According to LinkedIn:
B2B marketers use Bizo to target prospects within professional segments, and nurture them at every stage of their sales and marketing funnel. Fueled by proprietary data management and targeting technology, their platform enables precise and measurable multi-channel marketing programs.
The two companies have been partners for some time now according to a post on LinkedIn’s Marketing Solutions blog, with Bizo team members taking an active role in LinkedIn’s API Partner Program.
LinkedIn said the deal is expected to close by the third quarter of this year, with Bizo staff joining LinkedIn.